Europe

RSA names Allianz's Cote as Europe CEO, O'Leary to lead US specialty lines

RSA Luxembourg has named Nadia Cote as European CEO, succeeding Lynn O'Leary, who is set to relocate to the US to oversee Intact's specialty lines business.

Ward returns to Ebix Europe after eight years away

Insurance technology provider Ebix Europe has appointed Jeff Ward as sales director.

Deutsche Rück unveils CEO succession plans

German reinsurer Deutsche Rück has appointed Achim Bosch as CEO to replace the outgoing Frank Schaar, who is due to retire at the end of June.

Ex-Amtrust Intl CEO Conboy formally launches MGA Carrow

Former Amtrust International CEO Ronan Conboy has formally unveiled Carrow Insurance, a new MGA targeting the European mid-market insurance sector.

European reinsurance: Key talking points from the Q3 earnings season

Hannover Re was the only one of the big four European reinsurers to not deliver a major surprise in its Q3 results, with profit warnings at Munich Re and Swiss Re and a life charge at Scor providing the earnings season’s main headlines.

Guy Carpenter to acquire remaining 51.5% stake in Greece JV

Guy Carpenter has reached agreement to acquire the remaining 51.5 percent of shares in Athens-based reinsurance broker Carpenter Turner.

HDI Global reports 90.5% CR as 9M nat cats remain within budget

Corporate and specialty insurer HDI Global has posted a combined ratio of 90.5 percent for the first nine months of 2024, an improvement of 2.2 percentage points year on year.

Morningstar DBRS warns of €4bn+ insured losses from Spanish floods

Flash flooding across southern Spain in October is likely to generate total insured losses of more than €4bn, according to Morningstar DBRS, including those covered by the state-backed catastrophe consortium.

Energy transition introduces new challenges for European risk managers

Organisations working towards net-zero emissions need to manage new physical and business risks that are not always easy to anticipate, according to discussions at the Ferma Forum in Madrid last month.

Generali targeting premium increases across non-motor lines in 2025

Italian insurer Generali is seeking premium increases at 1 January 2025 that match if not exceed higher risk premiums across both motor and non-motor lines, according to Giulio Terzariol.

Generali to include higher nat cat budget in next strategic plan following 9M24 hit

Generali has maintained its sub-96 percent undiscounted combined ratio target for 2024 despite exceeding its annual catastrophe budget during the first nine months of the year, prompting the group to consider raising its cat budget in its next strategic plan.

Henchoz to also step down as Talanx reinsurance board member

Departing Hannover Re CEO Jean-Jacques Henchoz will also step down from the Talanx Group board of management at the end of the first quarter of 2025.

Eiopa recommends higher capital charges for insurers’ fossil fuel assets

The European Insurance and Occupational Pensions Authority has called for additional capital charges for European insurers’ transition-exposed assets to help better align capital requirements with insurers’ actual risk exposures.

Ageas Re launches Deister-led Zurich hub

Ageas Re, the reinsurance arm of Belgian insurance group Ageas, has announced that launch of a new branch office in Zurich led by Anne Deister as branch manager.

Valencia floods to have “limited” effect on insurers despite €3.5bn CCS loss estimate: S&P

Valencia’s flash flooding will have a “limited effect” on private insurers despite an estimated industry loss of €3.5bn ($3.77bn) by the Consorcio de Compensación de Seguros, according to analysts at S&P Global Ratings.

EU watchdog seeks stricter capital rules on insurer fossil fuel assets

The EU’s insurance regulator has recommended additional capital requirements be applied for fossil fuel assets on insurers’ balance sheets, in a move designed to address the asset’s high exposure to transition risks.

Hannover Re CEO Henchoz to stand down; hands reins to CFO Jungsthöfel

Hannover Re CEO Jean-Jacques Henchoz will step down from the helm of the reinsurance giant at the end of the first quarter of 2025, with current chief financial officer Clemens Jungsthöfel lined up as his successor.

Arch promotes Gansberg and Rajeh and unveils $1.9bn special dividend

Arch Capital Group has announced a special cash dividend that will return $1.9bn of capital to shareholders along with the promotion of David Gansberg and Maamoun Rajeh to the roles of president of the Bermudian (re)insurer.

Heritage Q3 CR improves to 100.6% despite $48mn retained hurricane losses

Florida carrier Heritage Insurance Holdings has reported a 10.2 point improvement in its combined ratio to 100.6 percent in the third quarter despite its pre-announced $48mn of net hurricane losses, with its CEO noting “considerable progress” on its strategic initiatives launched two years ago.

CFC launches European corporate cyber team led by Beazley’s Silvato

Specialist cyber insurer CFC has expanded its corporate cyber proposition with the launch of a team dedicated to serving brokers across Europe, led by new hire Ilaria Silvato.

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